The onset of menstrual cycle marks a very significant phase in the life of a female. It denotes the beginning of a series of physiological and psychological changes that will prepare the body for fertilisation and growth and development of the foetus. Regular menstruation is an indication of the fertility of a woman. In spite of the importance of menstrual cycle in the health of a female, most of the techniques that are currently used to determine the gynaecological health of a woman are invasive, expensive, time-consuming and require a proper laboratory set up. Monitoring of this cycle is of utmost importance for the detection of diseases like Polycystic Ovarian Syndrome (PCOS), Endometriosis etc. In this study, we have related the changes in speech formants with the different stages of the menstrual cycle. The hormonal changes occur during various stages of the menstrual cycle. Over the period of a menstrual cycle the three hormones Estrogen, Progesterone, Testosterone rise and fall which cause some positive and negative, optimistic and mental setback for some days. Daily observation of hormonal changes through the trivial pathological techniques is invasive and much difficult. But this observation can be done through speech signal Formant analysis easily. Formant frequency reflects the intricate features of the human body. Formant Analysis of some particular utterances which are extracted from the speech sample of the informant can provide the information regarding the hormonal changes. Also, the irregularity in hormonal changes can be detected by comparing it with the normal cycle. The development of speech processing techniques for the assessment of menstrual cycle can provide a non-invasive, cheaper and faster method. The assessment and diagnosis of the physiological condition and also relate to the behavioural changes during the menstrual cycle. Further, this method can be developed and implemented in rural areas where provisions of laboratory setups are unavailable.